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Business and Economics > Insurance

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
  • Poland, Republic of x
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Cover IMF Staff Country Reports
Republic of Poland: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision
International Monetary Fund. Monetary and Capital Markets Department
This Technical Note on Insurance Sector Regulation and Supervision provides an update and an assessment of the development of regulation and supervision of the Polish insurance sector since an assessment concluded in 2012. The note focuses on key issues, with reference to international standards but without presenting a detailed assessment of Poland’s observance. The supervision of intermediaries has also been strengthened in line with a 2012 Financial Sector Assessment Program recommendation. The Solvency II changes appear well-embedded, without significant exemptions or transitional arrangements. With limited long-term guarantee business, life insurers have currently no need for the special measures adopted for such business in many EU countries. However, the recent emergence of the first Polish financial conglomerate, which is headed by an insurer, poses supervisory challenges. In respect to the selected other areas of the insurance framework that were reviewed, the findings highlighted strengths in the approach, with some scope for further development.
Keywords:
ISCR; CR; risk assessment; line of business; PFSA supervision; PFSA supervisor; supervisory work; life insurer; PFSA staff; Solvency II; group supervision; insurance sector; business conduct regulation; solo insurer level; guarantee scheme; E. insurance conduct; Insurance companies; Insurance; Solvency; Financial Sector Assessment Program; Insurance supervision; Central and Eastern Europe; Europe; Global; Baltics
Cover IMF Working Papers
Bank Funding in Central, Eastern and South Eastern Europe Post Lehman: A “New Normal”?
Gregorio Impavido
,
Mr. Heinz Rudolph
, and
Mr. Luigi Ruggerone
CESEE banks are reducing foreign funding sources in response to reduced external imbalances, reduced ability to tap international savings, banking group own strategies, initiatives by some regulators, and consistently with uncertainties surrounding the future of the banking union project. In the medium term, the global regulatory agenda and the high foreign presence and stock of FX loans exert opposite forces on rebalancing trends. In the long-term, any funding “new normal” will be determined by the future design of the EU financial architecture. In the meantime, limiting leverage, the use of FX loans and promoting aggregate saving through macro policies and capital market reforms will increase resilience against shocks going forward.
Keywords:
WP; banking sector; financial market; vis-à-vis bank; exchange rate; real GDP; Global Regulatory Agenda; Eastern Europe; Bank Funding; Deleveraging; parent bank; BNP Paribas; market capitalization; banking group; CDS price; BIS bank; Crédit Agricole; banks vis-à-vis; DSK bank; bank capital; FX loan; Loans; Pension spending; Commercial banks; Insurance; Western Europe; Global; Europe; Asia and Pacific; Baltics
Cover IMF Staff Country Reports
Republic of Poland: Financial Sector Assessment Program-Technical Note-Competition and Performance in the Polish Second Pillar
International Monetary Fund
This technical note for the Republic of Poland on competition and performance explains the Polish pension system and domestic capital market. Competition policies may need to be reviewed, in particular the combination of measures to maintain small pension funds operating while imposing strict caps on fees. If the government decides to continue pursuing policy of promoting competition in returns while reducing fees further, it may need to consider more structural changes in the second pillar, along the lines of the Swedish model.
Keywords:
ISCR; CR; private equity; government bond; management fee; coverage ratio; equity portfolio; variable annuity; pension fund portfolio; Pension spending; Stocks; Mutual funds; Insurance; Pensions; Europe
Cover IMF Staff Country Reports
Republic of Poland: Financial System Stability Assessment
International Monetary Fund
This report on Financial System Stability Assessment analyzes the financial sector issues, the regulatory and supervisory framework, macroeconomic risks, and the soundness of the financial system of Poland. This paper also describes the assessments of the banking, insurance, and securities regulations, and of the systemically important payment systems, as well as an assessment of the observance of the code of good practices on transparency of monetary and financial policies, and the great progress made in assimilating international best standards and practices.
Keywords:
ISCR; CR; financial market; banking sector; central bank; banking system; financial system; interest rate; minister of finance; monetary policy; exchange rate; Commercial banks; Legal support in revenue administration; Insurance companies; Insurance; Payment systems; Global